Registered number: 03372993 | ||||||||
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FOR THE YEAR ENDED 31/05/2021 | ||||||||
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Prepared By: | ||||||||
L A Morgan | ||||||||
Top Floor | ||||||||
42 High Street | ||||||||
Portishead | ||||||||
Bristol | ||||||||
BS20 6EL |
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Cam Machine Components Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/05/2021 | ||||||||
DIRECTORS | ||||||||
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SECRETARY | ||||||||
P A Phelps | ||||||||
REGISTERED OFFICE | ||||||||
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North Somerset | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 03372993 | ||||||||
ACCOUNTANTS | ||||||||
L A Morgan | ||||||||
Top Floor | ||||||||
42 High Street | ||||||||
Portishead | ||||||||
Bristol | ||||||||
BS20 6EL |
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Cam Machine Components Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/05/2021 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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Cam Machine Components Limited | ||||||||
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BALANCE SHEET AT
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2021 | 2020 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 5 |
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Cash at bank and in hand |
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239,435 | 667,476 | |||||||||
CREDITORS: Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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562,489 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 7 | 43,333 | - | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 |
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Share premium account | 10 |
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Capital redemption reserve | 11 |
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Profit and loss account | 747,979 | 1,292,474 | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Cam Machine Components Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/05/2021 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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While acknowledging that it is a requirement of the Companies Act to show an annual depreciation charge for freehold property, the director believes that the value of the property is no less than the value shown in the accounts as at the year end and therefore no depreciation has been provided. | ||||||||
The director does not believe it would serve any practical purpose to carry out periodic valuations of the property asset owned by the company. It is the directors intention to maintain the property to its present state in order to maintain the value reflected in the accounts. | ||||||||
Plant And Machinery | straight line 10 % | |||||||
Fixtures And Fittings | straight line 20 % | |||||||
Equipment | straight line 33 % |
1c. Stocks | ||||||||
Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Cost includes all direct expenditure and an appropriate proportion of fixed and variable ovrtheads. |
1d. Pension Costs | ||||||||
The company makes contributions to pension schemes for the benefit of the employees. The company also operates a salary sacrifice scheme for the benefit of the employees. The pension charge represents the amounts payable by the company to the fund in respect of the year. | ||||||||
The assets of the scheme are invested and managed independently of the finances of the company. |
1e. Research And Development | ||||||||
Expenditure on research and development is written off in the year in which it is incurred. |
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Cam Machine Components Limited | ||||||||
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2. EMPLOYEES | ||||||
2021 | 2020 | |||||
No. | No. | |||||
Average number of employees |
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16 | ||||
3. TANGIBLE FIXED ASSETS | ||||||||||||
Land And | Plant and | Fixtures | ||||||||||
Buildings | Machinery | and Fittings | Equipment | Motor Cars | Total | |||||||
£ | £ | £ | £ | £ | £ | |||||||
Cost | ||||||||||||
At 01/06/2020 | 314,184 | 1,423,270 | 29,770 | 45,896 | 23,673 | 1,836,793 | ||||||
At 31/05/2021 | 314,184 | 1,423,270 | 29,770 | 45,896 | 23,673 | 1,836,793 | ||||||
Depreciation | ||||||||||||
At 01/06/2020 | - | 874,414 | 26,785 | 37,487 | 23,673 | 962,359 | ||||||
For the year | - | 118,406 | 814 | 3,824 | - | 123,044 | ||||||
At 31/05/2021 | - | 992,820 | 27,599 | 41,311 | 23,673 | 1,085,403 | ||||||
Net Book Amounts | ||||||||||||
At 31/05/2021 |
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751,390 | ||||||
At 31/05/2020 |
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874,434 | ||||||
4. STOCK | 2021 | 2020 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Work in progress |
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5. DEBTORS | 2021 | 2020 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 71,117 | 64,104 | ||||||
Other debtors and prepayments | 36,560 | 40,012 | ||||||
107,677 | 104,116 | |||||||
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Cam Machine Components Limited | ||||||||
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6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
Other tax | 23,258 | 35,015 | ||||||
Directors loans | 9,709 | 14,609 | ||||||
Bank Loan | 6,667 | - | ||||||
Trade creditors | 32,294 | 48,334 | ||||||
Accruals and sundry creditors | 6,138 | 7,029 | ||||||
78,066 | 104,987 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2021 | 2020 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 43,333 | - | ||||||
43,333 | - | |||||||
8. PROVISIONS FOR LIABILITIES | 2021 | 2020 | ||||||
£ | £ | |||||||
Deferred taxation | 81,353 | 104,355 | ||||||
81,353 | 104,355 | |||||||
9. SHARE CAPITAL | 2021 | 2020 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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59 | 94 | ||||||
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6 | 6 | ||||||
65 | 100 | |||||||
During the year the Company bought back 35 of its ordinary shares at a cost of £409,063. The 35 shares are now in the Capital redemption reserve. The cost of buying back the shares has been deducted from distributable reserves brought forward. |
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Cam Machine Components Limited | ||||||||
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10. SHARE PREMIUM ACCOUNT | 2021 | 2020 | ||||
£ | £ | |||||
Share premium account | 39,994 | 39,994 |
11. OTHER RESERVES | 2021 | 2020 | ||||
£ | £ | |||||
Capital redemption reserve | 35 | - | ||||
35 | - | |||||
12. CONTROLLING PARTY | ||||||||
S E Farr by virtue of his majority shareholding is the controlling party of the company. | ||||||||
13. POST BALANCE SHEET EVENTS | ||||||||
Since the end of the financial year, due to adverse trading conditions, the director has made the decision to close the company. | ||||||||